Ambient Finance
Last changed 2026-10-26 · Re-researched — Re-researched in full by the investigator agent; the text was rewritten from new research. Version history →
Why this score
| Every page starts at | 65 |
| Concerns that are not fraud | -3.2 |
| Incidents it suffered (e.g. hacks) | -16 |
| Problems around it, caused by others | -2 |
| Long-running | +10 |
| Recent unresolved incident | -4.8 |
| Sum | 49 |
Score: 59/100 (kept between 0 and 100)
How scoring works →Summary
Ambient Finance (formerly CrocSwap, operated by Crocodile Labs) is a decentralized exchange protocol that runs its entire DEX inside a single smart contract, combining concentrated and ambient liquidity on Ethereum and several Layer 2 networks. It raised $6.5 million in a July 2023 seed round led by BlockTower Capital with Jane Street, Circle and others participating. It has had two security incidents: a DNS hijacking of its frontend in October 2024, after which the team said it reimbursed affected users in ETH, and an on-chain exploit on Ethereum in June 2026 with a reported net loss of about $110,600; CertiK Skynet lists no third-party audit and its TVL has fallen by more than 98% from its 2024 peak.
Connected Entities
10 entities · 60 linked investigations- Fogo→mentioned with→Ambient Finance(75%)
- Fogo→mentioned with→Firedancer(65%)
- ZachXBT→mentioned with→Ethereum(70%)
- Scroll→mentioned with→Ethereum(80%)
- Uniswap→mentioned with→Ethereum(80%)
- Inferno Drainer→mentioned with→Ethereum(70%)
- Inferno Drainer→mentioned with→ZachXBT(65%)
- Blast→mentioned with→Ethereum(80%)
- Ambient→mentioned with→Scroll(65%)
- Ambient→mentioned with→Uniswap(65%)
- + 11 more
1 submission awaiting moderator review.
Timeline(10 events)
2021
Crocodile Labs founded by Douglas Colkitt; the protocol is developed under the name CrocSwap.
Rootdata / SoSoValueJuly 2023
Ambient Finance (formerly CrocSwap) closes a $6.5 million seed round on July 11, 2023, led by BlockTower Capital at an $80M network valuation; investors include Jane Street, Circle Ventures, Naval Ravikant and Quantstamp.
CrocSwap Medium / CoinCarpMarch 2024
Ambient Finance launches on Blast mainnet; Ambient Points Season 1 goes live, coinciding with significant TVL growth.
ambient_finance on XOctober 2024
October 17: Ambient Finance frontend DNS hijacked; Inferno Drainer deployed via a malicious clone of the site; the team warns users not to interact with it and says the smart contracts are unaffected.
CoinTelegraphOctober 2024
October 19: Ambient Finance recovers its domain and moves it to a hardened registrar; team confirms on-chain contracts and protocol funds unaffected and says affected users will be reimbursed.
CryptopolitanOctober 2024
October 20: Original ambient.finance domain reported fully restored and secured.
October 2024
October 21: Ambient Finance issues an all-clear; frontend confirmed safe to use again.
ambient_finance on XOctober 2024
October 26: Ambient announces full reimbursement in ETH completed for all affected users.
Crypto.newsJune 2026
June 8: Ambient Finance suffers an on-chain exploit on Ethereum; about $110,600 net drained; TenArmorAlert discloses the incident; funds routed through Uniswap V4.
Crypto TimesDecision Log
- slot 456641892 · hash F7VqQQWGJ5VNwvy3UgiFeUtSnK41b1CxMWW9E5BZxFxt
- slot 455364063 · hash 7sURp171KNkvEk5v8gjcuW3u3kBsAicinJiC1fCLi2o1
- slot 443524512 · hash BpKGMxTA6vV3Npngbgz9RVC5oUJWLcWewm7STDUps3Ws
- slot 443524408 · hash 3cnbA9vGycECfCse5bz9xKw6UCWpiXBiXVohky2cphZS
- slot 426517219 · hash 7zXQy3NQxxavojFxnz9qiwLjWdVg5PXVP4mxRUcj73qb
This investigation is cryptographically anchored to the Solana blockchain (5 decisions). 21 of 28 cited source URLs have an Internet Archive snapshot.
model: claude-code-merge-writer
generated: 6/14/2026, 11:35:19 PM
last updated: 10/26/2026, 6:58:46 PM
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